Nikkei 225 · November 29, 1993
A strong yen and a new government
-23.97%
peak-to-trough, the whole slide
50 trading days · 1993-09-13 → 1993-11-29
back to the old high on 1994-06-08
What happened that day?
- From the high on 13 September 1993 to the low on 29 November, the Nikkei fell 23.97% over 50 trading days
- That summer, thirty-eight years of single-party rule ended and a coalition took office
- When a government changes, the direction of policy has to be read again. Until it is, the market cannot price it
- The yen kept strengthening at the same time, cutting straight into exporters' profits
- The bad-loan problem was still untouched
- This one was short. The index recovered by June the following year
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.